
Technical Analysis of the US Dollar Index
The US Dollar Index is moving sideways on the 4-hour timeframe, currently trading around 97.20. Prices have formed an Order Block on the 4-hour chart near 97.60, which is expected to act as a key selling area (a bearish price action signal must appear before entering a short position). Overall, further downside is expected during the day.
Key Economic News
Market activity is expected to remain muted today due to the US banking holiday, with no significant news releases affecting the US dollar.
Liquidity Levels
Prices are expected to decline towards 96.70, followed by 95.90.
Scenario Invalidation
The corrective bearish scenario would be invalidated if prices reach 98.20.